Focus on the process, starting with your customers
The quintessential marketing questions haven’t changed much over time: Who do I market to? What’s the best way to reach them? When should the campaign run? The following three-step process should get you well on your way to getting these questions answered.
1. Understand your current customers
A big mistake made by marketers is searching for outside help too early in the marketing development process. Outside vendors who analyze, append and assist in developing marketing campaigns can be great resources, but tapping into these resources too early can be costly and ineffective.
Look at the resources and information you have internally before you seek any kind of outside help. For example, most of the questions you would begin to ask yourself when developing a marketing campaign can be answered by looking at your current customers and understanding what they buy, how much they spend and when they tend to buy (time of day or time of year). Once you understand what your internal data is telling you, then go ahead and pursue the use of outside data, analytics, deployment, creative development and other resources.
2. Develop a multi-channel/multi-touch campaign built around the customer
When deciding who to market to and how to develop the campaign, many marketers make a choice based on the execution channel’s development time, expected response rate and cost. While each of these factors should play a role in decision making, the main focus should be the understanding of how each channel works and the lift in the response associated with bundling channels together.
A tremendous advantage of developing a multi-channel marketing approach is the overall lift in engagement when combining execution channels. The more channels that are added to any promotion, the more likely you are to get in front a potential customer. More importantly, focusing those efforts on the audience rather than around the promotion itself will yield better overall response.
3. Stay engaged
Most sales professionals would agree that it’s extremely difficult to get your selling curve to match someone’s buying curve. In fact, companies worldwide spend billions of dollars trying to “force” that action with flashy marketing promotions and high-pressure sales tactics, when in reality the key is staying engaged.
Staying engaged means committing to a long term, overarching marketing strategy that keeps your brand, products, and services in front of customers and prospects in an ongoing manner. By staying engaged, there is less pressure to force potential customers into buying on your selling curve.
In a nutshell, there are three main tactics every marketer needs to understand to get the most out of their marketing budget. First, understand who you currently do business with so that you can get the most out of what you already have (customer database). Second, develop a multi-touch, multi-channel campaign that is designed and pitched to a specific consumer group. Lastly, don’t attempt to make your selling curve fit someone’s buying curve, it won’t work! Follow these three simple steps and you will be well on your way to developing a successful marketing strategy.
Virtual DBS, Inc. provides best-in-class database marketing tools and services including predictive analytics, marketing data, data hygiene and digital advertising. With products and services delivered in the cloud, omni-channel marketers have access to some of the most comprehensive B2B, B2C and Specialty databases available.